Many large organizations in different industries are implementing digital transformation programs to improve efficiency, reduce costs and exploit new opportunities. In the globalized and growing companies’ context, managers need to deal with multiple initiatives at the same time with limited available resources. To achieve organizational strategic objectives, project portfolio management is fundamental to properly allocate the required resources in order to achieve the expected benefits addressed by their strategy. Project selection for project portfolio definition becomes then a paramount phase in order to prioritize and authorize the initiatives that satisfy the critical success factors. However, an agreement has not been reached yet regarding the most effective model and list of factors to be used, especially in the broad and heterogeneous environment of large organizations.